What are Signature Student Loans?

Signature student loans are a type of loan that is often used to supplement federal loans when you need money for college. Here are the basics of signature student loans and how they work.

Signature Student Loans

A signature student loan is a type of student loan that is backed by the federal government. With this type of loan, you could choose to work with Sallie Mae. Even though these loans are backed by the government, you are going to have to meet certain qualifications in order to get one. These types of loans are not as easy to get as federal loans are. These loans are typically utilized in order to supplement the money that you have already borrowed from federal loans.

Credit

With this type of loan, you are going to have to have a decent credit score. Unlike federal loans, the lender is going to want to pull a copy of your credit report to make sure that you are a credit worthy candidate. Many college students do not have any type of credit history because they are fresh out of high school. In this case, you might want to ask your parents to cosign the loan with you. 


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